Sana Biotechnology Inc. (NASDAQ:SANA) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -8.60% to the previous day’s close as strong demand from buyers drove the stock to $6.48.
Actively observing the price movement in the last trading, the stock closed the session at $7.09, falling within a range of $6.45 and $7.12. The value of beta (5-year monthly) was 0.62. Referring to stock’s 52-week performance, its high was $9.55, and the low was $2.99. On the whole, SANA has fluctuated by 23.43% over the past month.
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With the market capitalization of Sana Biotechnology Inc. currently standing at about $1.26 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2023 – May 12, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.43, which is expected to increase to -$0.36 for fiscal year -$1.72 and then to about -$1.49 by fiscal year 2024. Data indicates that the EPS growth is expected to be -24.60% in 2024, while the next year’s EPS growth is forecast to be 13.40%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SANA’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
5 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 3 analyst(s), 2 recommend it as a Buy and 0 called the SANA stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SANA currently trading nearly 3.30% and 33.27% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.38, while the 7-day volatility ratio is showing 9.87% which for the 30-day chart, stands at 8.83%. Furthermore, Sana Biotechnology Inc. (SANA)’s average true range (ATR) is 0.55. The company’s stock has been forecasted to trade at an average price of $9.00 over the course of the next 52 weeks, with a low of $6.00 and a high of $13.00. Based on these price targets, the low is 7.41% off current price, whereas the price has to move -100.62% to reach the yearly target high. Additionally, analysts’ median price of $8.50 is likely to be welcomed by investors because it represents a decrease of -31.17% from the current levels.
A comparison of Sana Biotechnology Inc. (SANA) with its peers suggests the former has fared considerably weaker in the market. SANA showed an intraday change of -8.60% in last session, and over the past year, it grew by 47.27%%. In comparison, Johnson & Johnson (JNJ) has moved lower at -0.10% on the day and was down -12.70% over the past 12 months. Additionally, there is a gain of 0.60% for Eli Lilly and Company (LLY) in last trading while the stock has seen an overall depriciation of 40.70%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for Sana Biotechnology Inc. (NASDAQ:SANA) indicates that the trading volumes over the past 10 days have averaged 1.8 million and over the past 3 months, they’ve averaged 1.35 million. According to company’s latest data on outstanding shares, there are 191.23 million shares outstanding.
Nearly 3.10% of Sana Biotechnology Inc.’s shares belong to company insiders and institutional investors own 91.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 28.23 million shares as on Apr 27, 2023, resulting in a short ratio of 20.37. According to the data, the short interest in Sana Biotechnology Inc. (SANA) stood at 14.75% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 30.36 million. The stock has risen by 64.05% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SANA stock heading into the next quarter.